Liquidity Events
TrueNorth-backed Anthem Biosciences’ 100% OFS IPO oversubscribed
The initial public offering (IPO) of Bengaluru-based pharmaceuticals manufacturer Anthem Biosciences has been subscribed 4.01 times on the last day of the bidding process. The INR 3,395 crore issue is entirely an offer for sale (OFS), with no fresh equity issuance.The IPO received bids for 17.66 crore shares against the 4.4 crore shares which included non-institutional investors (NIIs) subscribing 12.37 times, retail investors subscribing 2.38 times, while qualified institutional buyers (QIBs) bid for 60% of their share. The price band for the issue is fixed at INR 540-570 per share, with a minimum lot size of 26 shares.Founded in 2006, Anthem Biosciences offers end-to-end drug discovery, development, and manufacturing services. It claims to have served over 675 clients and completed more than 8,000 projects.In FY25, Anthem reported an EBITDA margin of 36.8% and a Return on Net Worth (RoNW) of 20.8%. As of March 2025, the company’s net worth stood at INR 2,410 crore.
In Apr 2021, Anthem Biosciences had attracted about USD 83 M from TrueNorth.
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